Last July, the company announced a full rebrand from The Red Door Salon & Spa, walking away from 100 years of heritage and unveiling a new millennial-focused concept. Now Mynd Spa & Salon has filed for bankruptcy.
WHO: Mynd Spa & Salon, a national chain of beauty and wellness centers.
WHY: In 2012, WWD reported that Red Door Spa did $150 million in annual sales, but the business had been struggling.
- The chain filed for Chapter 7 bankruptcy in the Southern District of New York on March 19, just days after closing due to the coronavirus.
- The business had 27 locations across the US.
- The chain posted on its website: “A Trustee will be appointed to wind down the affairs of the business.”
- The filing says there are between 1 and 49 creditors. It lists estimated assets as less than $50,000 and estimated liabilities as between $1,000,001 and $10 million.
- North Castle Partners has backed the business since 2012.
- Revlon-owned Elizabeth Arden once held a minority stake in the spa business but does not anymore.
Photo: via Mynd Spa & Salon